Rolta India’s Rs 616 crore NPA declared as fraud by Bank of India

Mar 27, 2025

Synopsis
Bank of India declared its Rs 616.30 crore exposure to Rolta India Ltd. as fraud, having fully provisioned the amount. Rolta, an IT solutions provider, had declared bankruptcy in January 2023 and owes approximately Rs 14,000 crore to various creditors. The case has been reported to the Reserve Bank of India.

Bank of India (BoI) on Wednesday declared its exposure to Rolta India Ltd., amounting to Rs 616.30 crore, as fraud.

The bank informed the stock exchanges that the entire outstanding amount has been fully provisioned and the information has been reported to the Reserve Bank of India (RBI) on Wednesday.

Rolta India Ltd., an IT solutions provider, has faced severe financial distress in recent years, leading to its filing of bankruptcy in January 2023.

As per an ET report of May 2024, Rolta owes banks led by Union Bank of India (UBI) Rs 7,100 crore and another Rs 6,699 crore to unsecured foreign bondholders led by Citigroup, adding up to a total debt of close to Rs 14,000 crore.

[The Economic Times]